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After a series of delays, the launch of the world’s first bank-owned satellite, BRIsat, was eventually achieved on Sunday from a rocket pad in French Guiana, state lender bank Bank Rakyat Indonesia announced.

BRI consumer banking director Sis Apik Wijayanto said the launch went ahead without any trouble on Sunday at 4:59 a.m. Jakarta time.

Apik said currently the satellite was on its way to its assigned orbital position, a trip that might take 10 days.

Once reaching its orbital position, the BRIsat will undergo a series of in-orbit tests for 60 days to ensure everything functions as planned, Apik said as quoted by kontan.co.id on Sunday.

During Sunday’s launch, the Ariane 5 rocket that held the BRIsat also carried a second satellite, the EchoStar XVIII owned by US networking company EchoStar Corporation. Both satellites were built by a California-based company, Space System/Loral (SSL).

The bank’s satellite will be insured by state-owned company Jasindo. The satellite has a normal lifespan of 10 years, but that could be extended another seven years. (dmr